Bailout Success?

Almost $1 trillion thrown at Greece. Now the question is whether they will bite the bullet there and take austerity steps to bring long term budget trends into a sustainable path. I see the crowds are hitting the streets again.

On a domestic note, I think the anti-incumbency is very real. However, we still see some outlier type situations that are too easy to generalize. Sen. Bennett (R-UT) is a mainstream Republican who suffered a fringe nominating process, Rep. Al Mollohan (D-WV) was wrapped up in earmarks scandals, otherwise we haven't seen the pure incumbent anger play yet. The Kentucky primary with Trey Grayson and Rand Paul may show whether the strength of the angry roots is real. However, again we are not yet talking about a "pure" incumbent getting the ax. Don't get me wrong, I think it is entirely within the realm of possibility.

One more thing. What is this recent phenomenon of the silver sales people jumping on the gold bandwagon. Gold and silver are completely different metals. Does no one remember the great debates of the 19th century monetary policy? Gold based currency holds value and favors creditors. Silver is abundant and inflationary (you can mine much more than gold) and favors debtors. Outrageous.